KUALA LUMPUR (Oct 2): Japan-based Mitsubishi UFJ Financial Group (MUFG) has completed disposal of its entire 412.5 million shares or 4.56% stake in CIMB Group Holdings Bhd. Malaysian and foreign institutional investors have bought the stake at between RM6.15 and RM6.30 a share.

CIMB group chief executive officer and executive director Tengku Datuk Seri Zafrul Abdul Aziz said the Malaysian institutional investors included the Employees Provident Fund (EPF) and Permodalan Nasional Bhd (PNB). At Bursa Malaysia, CIMB shares settled at RM6.32 at 12:30pm, with some seven million shares traded.
 
“It’s already been done," Zafrul told reporters on the sidelines of the Khazanah Megatrends Forum 2017 here today. 

He said "institutional shareholders bought the shares, with most of them being taken mainly by foreign investors.”

Regarding Bank Negara Malaysia's announcement on the implementation of the net stable funding ratio (NSFR), Zafrul said CIMB will follow Bank Negara's regulations.

According to Bank Negara, the NSFR is a liquidity standard published by the Basel Committee for Banking Supervision, which forms part of the Basel III regulatory reforms. 

"The NSFR requires banking institutions to maintain a stable funding profile in relation to the composition of their assets and off-balance sheet activities. This standard complements the Liquidity Coverage Ratio (LCR) which has been phased in since 2015," Bank Negara said.